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After a few days of trading sideways at around the $36,500 level, bitcoin finally went on the offensive hours ago and spiked above $37,000.

Most altcoins are also with minor gains today, with Ethereum reclaiming $2,000 after dumping below that level at the end of last week.

BTC Back Above $37K

The primary cryptocurrency dumped hard on Wednesday – Nov 15 – when the bears appeared to have complete control over the market and pushed it south to a weekly low of $35,000. However, the bulls didn’t give up and resumed the recent rally within the next 24 hours.

In one of the most notable daily price pumps in a while, BTC added roughly $3,000 and shot up to $38,000 for the second time within a week.

Just like the previous attempt, though, this one was quite unsuccessful and bitcoin was quickly driven back down to under $36,000. The following few days were calmer, with BTC trading sideways in a range between $36,000 and $36,500.

The early Monday trading session started on a more positive note, with bitcoin jumping to $37,500. Although the asset has lost some traction since then, it still stands above $37,000 as of now.

Its market capitalization has jumped to nearly $730 billion, while its dominance over the alts stands still at over 51%.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

NEAR on the Run

It’s safe to say that Near Protocol’s native token has been the top performer in the past 24 hours from the larger-cap alts. NEAR has soared by more almost 20% and trades well above $2.1.

Chainlink, Aptos, IMX, HBAR, and LDO follow suit, with gains of up to 8%. ETH, ADA, MATIC, DOT, XRP, BNB, DOGE, TRX, AVAX, and LTC are also in the green but in a more modest fashion.

SOL is the only top 10 altcoin in the red today. The asset has retraced by 2.5% in a day and sits at $60 as of now.

The total crypto market cap has added around $20 billion in a day and has reclaimed the $1.4 trillion level on CMC.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto
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Cryptocurrency charts by TradingView.


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